Worksport Ltd., together with its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold aluminum covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and …
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Competitive advantage assessment
Key strengths
Operating Leverage in EffectOperating leverage is evident (score 0.95), with margins expanding over time.
Key risks
ROIC Below WACC or PeersROIC at 10.9th percentile suggests inefficient capital deployment.
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.00), suggesting weak customer stickiness.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Worksport, Ltd. ranks #49 of 60
scored companies in Auto Parts by moat score — the top 82%.
The widest moat in the group is Allison Transmission Holdings, (ALSN)
at 83/100.
Moat scores for companies ranked near WKSP in Auto Parts
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 19
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 12
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 14
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 31
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 65
· 15% of the moat score
Scale matters only when it converts into economics.
Worksport, Ltd. (WKSP) scores 26 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #49 of 60 scored companies in Auto Parts, the top 82%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 59 companies in Auto Parts. Its strongest defense is Scale & Market Position (65/100) and its weakest is Customer Stickiness (12/100).
How does Worksport, Ltd. compare with other Auto Parts companies?
Worksport, Ltd. ranks #49 of 60 scored companies in Auto Parts by moat score. The widest moat in Auto Parts is Allison Transmission Holdings, (ALSN) at 83/100. The companies ranked closest are Innoviz Technologies Ltd. (INVZW) at 27 just above it and Solid Power, Inc. (SLDPW) at 24 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 59 companies in Auto Parts. The defenses are then weighted to produce the overall score out of 100.
Why is Worksport, Ltd. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Worksport, Ltd.?
The Corporate Default template measures 6 defenses, and WKSP scores: Pricing Power (17), Cost Advantage (19), Customer Stickiness (12), Capital Efficiency (14), Resilience (31), Scale & Market Position (65). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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